ByteDance Is Giving Employees Cash Bonus For Working Through ‘Trying Times’
TikTok’s parent company, ByteDance is giving all 60,000 employees worldwide cash bonus for sticking with it during trying times.
It is no longer news that what started as itches for TikTok has developed into a full-blown ailment for it and its owner, ByteDance. While the video-sharing platform has been facing opposition in other countries, the impending US ban is a major problem.
To encourage its employees for not abandoning the ship when it appears to be sinking, ByteDance says it will give them cash bonuses in September 2020.
Bloomberg had obtained a copy of an internal memo that the giant media company’s executives sent to employees. The memo claims that all its staff, amounting to over 60,000 worldwide, will get the bonus. This could be as high as half of their month’s salary.
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The memo appears to be a ‘thank you’ note. It is not a strange development as ByteDance CEO Zhang Yiming had acknowledged that its employees had kept working despite the uncertainty that TikTok faced.
Part of the memo reads; “Over the past few months, we have been working together to overcome challenges posed by the COVID-19 pandemic and changing macro environment. To thank everyone for their efforts and dedication, we will be issuing a cash bonus to all eligible employees.”
The only condition for the ByteDance bonus is that employees must have worked for at least 26 days during July and August 2020. Things has not been easy for both the staff and management.
Especially in the US, many are not sure if TikTok buyers, whoever they turn out to be, would retain them. If not, many could lose their right to live in the US because their Visas are tied to their employment.
To give more context, amidst the problems, TikTok CEO Kevin Mayer had quit the company.
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